Moneycontrol PRO
Upcoming Event:Attend Algo Convention Live, 2 Days & 12+ Speakers at best offer Rs.999/-, exclusive for Moneycontrol Pro subscribers. Register now!

Centre gives approval to 4 firms under PLI scheme for bulk drugs

The Department of Pharmaceuticals had launched the PLI scheme for promotion of domestic manufacturing of critical bulk drugs — Key Starting Materials (KSMs)/ Drug Intermediates and Active Pharmaceutical Ingredients (APIs).

May 31, 2021 / 09:11 PM IST
Representative image

Representative image

The government has given approval to four waitlisted firms under the Production Linked Incentive (PLI) scheme for domestic manufacturing of bulk drugs, an official statement said on Monday. The Department of Pharmaceuticals had launched the PLI scheme for promotion of domestic manufacturing of critical bulk drugs — Key Starting Materials (KSMs)/ Drug Intermediates and Active Pharmaceutical Ingredients (APIs).

It envisages setting up greenfield plants in four different target segments with a total outlay of Rs 6,940 crore for the period 2020-21 to 2029-30. All the 215 applications received for the 36 products spread across the four target segments were considered and appraised and selected participants duly informed, the Ministry of Chemicals and Fertilizers said.

Union cabinet approves Rs 18,100 crore PLI scheme for battery storage

Now, four waitlisted applicants who are otherwise eligible have been approved against slots vacated by withdrawal by companies which had earlier been granted approvals, the ministry said. The companies which have been given approval are — Solara Active Pharma Science Ltd, Rajasthan Antibiotics Ltd, Dhatri Lab Pvt Ltd and Vital Laboratories Pvt Ltd.

The products for which approval has been given are — 1,1 Cyclohexane Diacetic Acid, Meropenem, Ritonavir and Levofloxacin, the statement said. "With this, a total of 46 applications with committed investment of Rs 5,355.44 crore and expected employment generation of about 11,210 have been approved by the government so far under the PLI Scheme for Bulk Drugs," the ministry said.

Close
Setting up of these plants will make the country self-reliant to a large extent in respect of these bulk drugs, it added.



Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

PTI
Sections
ISO 27001 - BSI Assurance Mark